Yet again, former House speaker and current president unmaker Nancy Pelosi (D-Absolut) has given the impression that she is improperly benefiting from her inside knowledge of pending legislation for her own profit. Surely this selfless servant of the people wouldn’t do such a thing, would she?
No doubt there is some perfectly reasonable explanation, but she hasn’t yet deigned to share it with us, and if past experience is any clue, she is going to keep us in the dark about this indefinitely. And why not? Pelosi knows that no one in the corrupt and compromised “Justice” Department can be persuaded to turn away from its latest Trump frame-up to look into this.
If Donald Trump had done what Pelosi’s husband Paul did, however, it’s a safe bet that Merrick Garland and his henchmen would be all over it. Fox Business reported Wednesday that back on Jul. 1, Paul Pelosi “sold 2,000 shares of Visa.” The sale price was “at least $500,000.” This might be a completely routine affair; indeed, “it is unknown how much, if any, profit the Pelosis made in the transaction.”
Yet Paul Pelosi’s Visa sell-off still warrants scrutiny, as it came “a few months before the federal government sued the company.” The "Nancy Pelosi Stock Tracker" X account “flagged the trade on Tuesday, the same day the Department of Justice filed a lawsuit against Visa, alleging that the company maintained an illegal monopoly over the U.S. debit card market.”
Did Paul Pelosi know that the DoJ action was coming? His wifey’s congressional office is staying resolutely mum, but in the past, a Pelosi wonk has said blandly: "Speaker Pelosi does not own any stocks, and she has no prior knowledge or subsequent involvement in any transactions." So you see, it’s just an amazing coincidence. Isn’t it wonderful how such coincidences so often take place to the benefit of longtime Washington insiders?
Indeed, Nancy and Paul have benefited from these coincidences many times in the past. “Earlier this year, the Pelosis made headlines over analyst reports that the couple made nearly $4 million over a six-month period with a bet Mr. Pelosi made on Nvidia. In 2022, Paul Pelosi grabbed more than $1 million in Nvidia call options just weeks before a congressional vote on providing massive subsidies to the chip manufacturing industry.” Amazing!
Even that wasn’t all. Back in Jan. 2023, the Washington Free Beacon reported that Nancy and Paul Pelosi “sold up to $3 million in shares of Google in recent weeks—just before the Biden Justice Department launched an antitrust probe of the tech giant.” Wow, the Pelosis are either the luckiest people on earth or the savviest stock traders in history, right?
Or could there possibly be an alternative explanation? After all, Nancy Pelosi’s net worth is over $230 million. The annual salary of the speaker of the House is $210,000, so even though Pelosi has been in the House since Ronald Reagan called upon Mikhail Gorbachev to tear down the Berlin Wall, there is no amount of frugality and penny-pinching that would account for that fortune on her salary alone.
Apparently, Nancy and Paul have mastered the intricacies of stock trading to a degree that would make the most seasoned Wall Street trader slack-jawed with awe. Do the Pelosis ever make a stock trade that proved to be ill-advised and loses them money? If such a thing ever happens, it’s vanishingly rare.
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In Jul. 2024, a bipartisan group consisting of Sens. Josh Hawley (R-Mo.), Gary Peters (D-Mich.), Jon Ossoff (D-Ga.), and Jeff Merkley (D-Ore.) unveiled new legislation to ban members of the House and Senate from trading stocks. Hawley asked, “Why should members of Congress be spending their time day trading rather than focusing on the priorities the American people sent us here to achieve and focus on?”
The obvious answer is that members of Congress spend their days trading stocks rather than focusing on the priorities of the American people because they couldn’t care less about the American people and are in Washington for the principal, if not sole, purpose of lining their pockets. The ban on stock trading is a good start, but if we really want to clean up Washington, we need to go much farther than that. How about a law barring members of Congress from receiving even a penny over their congressional salaries for any reason? What do you think, Sen. Hawley?
